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Columbus, OH-based FCX Performance, Inc., No. 35 on MDM's list of the top 40 industrial distributors, has completed two acquisitions that will expand its product & service offering as well its geographic reach.
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The two transactions include the acquisition of the Solares Controls Division of Solares Florida Corp. and Stafford, TX-based Baro Companies, which include the operations of Baro Controls, Inc. and Baro Process Products.
Based in Lakeland, FL, Solares Controls serves the Florida process control market.
Baro serves the Gulf Coast market with valve automation, pumps mixers and related products & services. The company serves the chemical, petro-chemical, oil & gas pipeline, refinery, power and other process markets.
According to a news release, the acquired companies' names will not be changed.
"These acquisitions fit perfectly with FCX’s corporate strategy of buying quality businesses and providing talented management teams with the additional resources to accelerate their growth plans,” said Charles Hale, FCX's CFO. “With the support of our majority investor, Sterling Investment Partners, we fully anticipate closing additional acquisitions in FY2011.”
FCX Performance is a distributor of process flow control products and services that serves MRO and OEM customers in the pulp & paper, chemical, petroleum pharmaceutical, power, steel and other process markets. Formed in 1999, FCX has 16 offices serving 30 states and more than 235 employees.